Canadian cannabis giant Canopy Growth Corp. has bought a majority stake in BioSteel Sports Nutrition, a Toronto-based producer of athletic nutrition and hydration products. The cash transaction gives the Smith Falls, Ontario-based cannabis producer a 72% stake in BioSteel on the path to 100% ownership. Terms were not disclosed. Canopy Growth says the acquisition is […]
Members of the House of Representatives voted 321 to 103 in favor of HR 1595: The SAFE Banking Act, which amends federal law so that explicitly banks and other financial institutions may work directly with state-legal marijuana businesses. Two-hundred and twenty-nine Democrats and 91 Republicans cast ‘yes’ votes in favor of the measure.
Majority Leader Hoyer on Friday announced that members of the House are anticipated to hold a floor vote next week on The SAFE Banking Act (HR1595), which explicitly permits banks and other financial institutions to work directly with state-legal marijuana businesses.
Reacting to the President’s comments, NORML’s Political Director Justin Strekal said, “The reiteration of a non-enforcement policy from the president is a clear sign that states should continue to defy the federal government when it comes to marijuana prohibition.”
As the CDC continues to investigate more than 450 cases of lung disease suspected to be caused by vaping, the Trump Administration moved forward with plans to ban flavored, non-tobacco e-cigarettes. In a statement, Human Services Secretary Alex Azar said “The Trump Administration is making it clear that we intend to clear the market of flavored […]
Canadian marijuana giant Aurora Cannabis has sold its remaining stake in a Toronto company that has a hemp subsidiary in Poland. Aurora sold its shares in The Green Organic Dutchman (TGOD) for 86.5 million Canadian dollars ($64.9 million). Though the move means Aurora has divested itself of a TGOD subsidiary that makes CBD products, HemPoland, […]
Legislation will take effect next week expanding and strengthening protections for state-qualified medical cannabis patients.
(This is an abridged version of a story that appears in the August issue of Marijuana Business Magazine.) Azuca, a CBD-infused product manufacturer headquartered in New York City, is using tiny, infused sugar granules as the building blocks for its rapidly growing cannabis business. The company’s CBD-infused sugars and syrups can be stirred into batters, doughs […]
A federal financial agency released updated guidelines on banking in the hemp industry on Aug. 19, 2019, following up on requests from lawmakers to provide clarity on the issue. The National Credit Union Administration (NCUA) said in its interim guidance that providing banking services to hemp businesses is allowable since the crop and its derivatives […]
The MORE Act, which was introduced to the US Congress last month, would completely decriminalize marijuana at the federal level. How will it work, and what will it do for cannabis consumers, pot convicts, and the burgeoning gray-market industry?
